Teck Resources Limited (NYSE: TECK) stock fell -3.67% on Wednesday to $38.89 against a previous-day closing price of $40.37. With 5.39 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.26 million shares. During the session, the Other Industrial Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $40.31 whereas the lowest price it dropped to was $38.75. The 52-week range on TECK shows that it touched its highest point at $49.34 and its lowest point at $24.47 during that stretch. It currently has a 1-year price target of $69.37. With its current market cap of 20.16 billion, TECK has annualized dividend of $0.37 while the current yield stands at 0.94%. Beta for the stock currently stands at 1.08.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TECK was down-trending over the past week, with a drop of -9.62%, but this was down by -9.98% over a month. Three-month performance dropped to -3.28% while six-month performance rose 21.56%. The stock lost -5.81% in the past year, while it has gained 3.88% so far this year. A look at the trailing 12-month EPS for TECK yields 5.13 with Next year EPS estimates of 5.00. For the next quarter, that number is 1.11. This implies an EPS growth rate of 32.00% for this year and -4.20% for next year. EPS is expected to decline by -8.13% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.80%.
Float and Shares Shorts:
At present, 514.10 million TECK shares are outstanding with a float of 503.92 million shares on hand for trading. On Apr 27, 2023, short shares totaled 13.5 million, which was 2.62% higher than short shares on Mar 30, 2023. In addition to Mr. Jonathan H. Price M.B.A. as the firm’s CEO & Director, Mr. Harry Milton Conger IV serves as its Exec. VP, COO, Pres & Director.
Institutional Ownership:
Through their ownership of 75.93% of TECK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.12% of TECK, in contrast to 27.25% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in TECK with 10.33% of the stake, China Investment Corp. holds 52,286,774 shares worth 52,286,774. A second-largest stockholder of TECK, Dodge & Cox, holds 27,691,040 shares, controlling over 5.47% of the firm’s shares. RBC Global Asset Management, Inc. is the third largest shareholder in TECK, holding 13,753,853 shares or 2.72% stake. With a 6.26% stake in TECK, the RBC Global Resources Fund is the largest stakeholder. A total of 31,700,000 shares are owned by the mutual fund manager. The Dodge & Cox International Stock F, which owns about 3.94% of TECK stock, is the second-largest Mutual Fund holder. It holds 19,941,140 shares valued at 929.26 million. BlackRock Global Funds – World Mi holds 1.55% of the stake in TECK, owning 7,866,667 shares worth 366.59 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, TECK reported revenue of $5.79B and operating income of $2.82B. The EBITDA in the recently reported quarter was $3.25B and diluted EPS was $3.07.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TECK since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TECK analysts setting a high price target of $58.72 and a low target of $44.04, the average target price over the next 12 months is $51.71. Based on these targets, TECK could surge 50.99% to reach the target high and rise by 13.24% to reach the target low. Reaching the average price target will result in a growth of 32.96% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
